President Biden signed the Inflation Reduction Act yesterday, bringing with it measures expected to boost prospects for energy storage.

Energy storage is ready to become a key pillar of the US energy transition, writes Andy Tang of Wärtsilä Energy.

It’s been a rollercoaster couple of weeks for US clean energy, an industry accustomed to ups and downs in policy and market dynamics.

Hopes have been raised once again that US lawmakers could introduce an investment tax credit for energy storage.

The implementation of regulative security is all that is needed to bring in investment for long duration storage.

Italy-headquartered global energy storage and electric vehicle (EV) technology group NOAH, formerly Engie EPS, is expanding in the US market with one project recently going online and two more in the pipeline.

Energy storage industry executives have urged US legislators to swiftly reach a consensus on the Build Back Better Act, with a strong emphasis on introducing the investment tax credit (ITC) for standalone storage. 

Stem Inc has signed a deal for over 110MWh of front-of-meter battery storage systems, as well as related services and software which will enable them to participate in New York’s Value of Distributed Energy Resources (VDER) programme. 

A programme incentivising the deployment of customer-sited energy storage systems (ESS) has been launched by the two main investor-owned utilities serving the US state of Connecticut.

A US$25 million virtual power plant (VPP) programme has been launched in Perth, Western Australia, while in the US, technology providers Enphase, Sunverge and LG have announced their involvement in VPPs in Arizona and California.